In the latest episode of Digible Dude, Reid Wicoff sits down with Dom Beveridge, Principal at 20for20, to unpack one of the most talked about topics in multifamily today: AI.

But instead of leaning into the hype, this conversation takes a more grounded approach. It explores how AI is actually being adopted, where it is delivering value, and why its biggest impact may not show up where many expect.

AI Adoption in Multifamily Is Moving From Tools to Strategy

One of the clearest insights from Dom’s research is that the industry is divided into two distinct approaches: AI-enabled and AI-first.

Most operators today are still experimenting. They are applying AI to existing workflows, improving response times or filling operational gaps. It is useful, but it does not fundamentally change how the business runs.

AI-first organizations are taking a different path. They are rethinking how processes should work now that AI exists. Instead of fitting AI into the business, they are reshaping the business around it.

Dom says, “The smarter people think: how should collections work in an environment where we have this technology doing this?”

That shift is subtle, but it is where long-term advantage starts to build.

How AI Is Changing Property Management Operations

For years, multifamily operations have relied on generalist roles handling a wide mix of responsibilities. Leasing teams balancing tours, admin, and follow-ups. On-site staff managing everything from renewals to collections.

What is emerging now is a move toward more specialized and structured workflows.

Instead of simply centralizing roles, leading operators are breaking work into focused functions and pairing that with automation. The goal is not just efficiency. It is consistency and scale.

AI plays a supporting role here, helping reduce repetitive tasks and allowing teams to focus on higher-value work. The transformation is less about replacing roles and more about redefining them.

Why AI Alone Will Not Drive Higher NOI

With all the momentum behind AI, it is easy to assume it will dramatically improve financial performance. Dom offers a more measured perspective.

Multifamily remains a real estate business first. Market dynamics still drive outcomes.

“NOI is predominantly about supply and demand… everything that we do in technology is kind of at the margins,” Dom explains.

AI can absolutely improve operations. It can help collect rent more efficiently, reduce friction, and enhance the resident experience. But those gains tend to be incremental rather than transformational on their own.

The real impact comes from layering those improvements across the business.

Shifting From Efficiency Gains to Resident Value

Early AI adoption has largely focused on efficiency. Reducing manual work, speeding up processes, and lowering operational costs.

That is only part of the story.

AI is also enabling a deeper understanding of resident behavior and preferences. Instead of relying on surveys or assumptions, operators can now gather insights from real-time interactions.

This opens the door to more personalized experiences, faster response times, and smarter decision-making. Over time, those improvements can influence leasing performance and retention in ways that go beyond simple cost savings.

The Role of Human Interaction in an AI-Driven Experience

Despite advances in automation, the human element remains essential.

Self-guided tours and digital leasing have expanded flexibility, but they have not eliminated the need for in-person interaction. For many renters, that connection still plays a role in decision-making.

“You put more revenue at risk when you take leasing agents out… there’s some value… in meeting a human,” Dom notes.

The future is not fully automated. It is flexible. The most successful operators will be the ones who balance digital convenience with meaningful human touchpoints.

Why Multifamily Tech Stacks Are Due for Consolidation

Another major theme from the conversation is the growing frustration with bloated tech stacks.

Many operators are managing too many tools, often with overlapping functionality. AI is accelerating the need to simplify.

As AI capabilities expand, narrowly focused solutions become harder to justify. Operators are starting to prioritize platforms that integrate more deeply and support broader workflows.

At the same time, some organizations are beginning to explore building capabilities internally, especially as development becomes more accessible.

Data Strategy Is the Foundation of Successful AI

For all the excitement around AI, its effectiveness still comes down to data.

Clean, structured, and consistent data is what allows AI to deliver meaningful insights. Without it, even advanced tools struggle to perform.

“If you don’t do that, the AI won’t work… it’s ultimately a data processing tool,” Dom says.

The challenge is that multifamily data is often fragmented across properties and systems. Addressing that requires intentional governance and a clear strategy, something many organizations are still developing.

What Will Actually Move the Needle for Multifamily Operators

If AI is not a standalone solution for improving NOI, what is?

The answer lies in how operators bring everything together. Strong operations, better use of data, thoughtful technology adoption, and a clear focus on resident experience all play a role.

AI enhances these efforts, but it does not replace them.

“To a vendor, ROI is a number. To a buyer, ROI is a rationale,” Dom says. 

That distinction highlights how decisions are really made in this industry.

Final Thoughts on AI’s Role in Multifamily

AI is not just another trend. It is changing how multifamily organizations think about operations, technology, and the resident experience.

Some will treat it as an incremental upgrade. Others will use it as an opportunity to rethink their entire approach.

The difference between those strategies will define the next phase of the industry.

Dive Into the Full Episode with Reid & Dom

This recap hits the highlights, but the full conversation is where the nuance really comes through.

Reid and Dom go deeper on AI governance, tech stacks, and what it actually takes to operationalize AI in multifamily today.

If you are evaluating new technology, reworking your operating model, or just trying to separate signal from noise in the AI conversation, this episode is worth a listen.

Catch the full episode of Digible Dude on Spotify, Apple Podcasts, or YouTube.

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And if you are not already following along, now is a great time. Conversations like this are exactly what Digible Dude is all about: real insights on what is actually shaping the future of multifamily.